Maximus (NYSE:MMS) Reaches New 52-Week High Following Better-Than-Expected Earnings

Shares of Maximus, Inc. (NYSE:MMS) reached a new 52-week high during mid-day trading on Thursday following a better than expected earnings announcement. The company traded as high as $90.65 and last traded at $86.84, with a volume of 129452 shares traded. The stock had previously closed at $84.12.

The health services provider reported $1.57 EPS for the quarter, beating the consensus estimate of $1.31 by $0.26. Maximus had a net margin of 3.73% and a return on equity of 15.68%. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same quarter last year, the firm posted $0.80 earnings per share. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year.

Maximus Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Wednesday, May 15th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $1.20 annualized dividend and a dividend yield of 1.38%. Maximus’s payout ratio is currently 39.74%.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Maximus from a “hold” rating to a “buy” rating in a report on Thursday, February 8th.

Insider Transactions at Maximus

In related news, CFO David Mutryn sold 8,000 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $83.95, for a total value of $671,600.00. Following the completion of the sale, the chief financial officer now directly owns 5,124 shares in the company, valued at approximately $430,159.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Maximus

Several large investors have recently made changes to their positions in the company. State Board of Administration of Florida Retirement System raised its holdings in Maximus by 8.9% during the first quarter. State Board of Administration of Florida Retirement System now owns 29,247 shares of the health services provider’s stock worth $2,302,000 after purchasing an additional 2,387 shares in the last quarter. Entropy Technologies LP bought a new stake in shares of Maximus in the 1st quarter worth $491,000. ProShare Advisors LLC lifted its holdings in shares of Maximus by 4.8% in the first quarter. ProShare Advisors LLC now owns 13,914 shares of the health services provider’s stock valued at $1,167,000 after buying an additional 640 shares during the period. Russell Investments Group Ltd. boosted its stake in Maximus by 12.0% during the first quarter. Russell Investments Group Ltd. now owns 28,557 shares of the health services provider’s stock valued at $2,396,000 after buying an additional 3,059 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in Maximus by 3.8% during the first quarter. Sei Investments Co. now owns 33,413 shares of the health services provider’s stock worth $2,803,000 after acquiring an additional 1,215 shares during the period. Institutional investors and hedge funds own 97.21% of the company’s stock.

Maximus Price Performance

The business has a 50-day moving average price of $82.34 and a 200 day moving average price of $81.63. The company has a market cap of $5.30 billion, a price-to-earnings ratio of 27.85 and a beta of 0.72. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.71.

Maximus Company Profile

Maximus, Inc operates as a provider of government services in the United States and internationally. It operates through three segments: U.S. Federal Services, U.S. Services, and Outside the U.S. The U.S. Services segment offers program eligibility support and enrollment; centralized multilingual customer contact centers, multichannel, and digital self-service options for enrollment; application assistance and independent health plan choice counseling; beneficiary outreach, education, eligibility, enrollment, and redeterminations; and person-centered independent disability, long-term sick, and other health assessments.